Ann: CEO Succession, page-54

Whilst BPT are the natural predator, I do wonder why STO does not simply T/O them, they would gain $150 million in cash, plus remove the approx $60-80 million in free carry that they owe DLS. So upwards to $200 million, plus gain 3mmbo of production at extremely low costs (caveat being they would also have to take on the $150 million in debt via the convertible notes, but then, STO would be able to pay them out with much cheaper debt). Anyway, just some idle thoughts while I wait for DLS to be carved up.